Oatly Group (NASDAQ:OTLY) Rating Lowered to Sell at Wall Street Zen

Oatly Group (NASDAQ:OTLY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

OTLY has been the subject of a number of other reports. BNP Paribas Exane decreased their price target on Oatly Group from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays reiterated an “overweight” rating and issued a $10.00 target price (down from $13.00) on shares of Oatly Group in a report on Thursday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Oatly Group in a research report on Monday, September 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.31.

Oatly Group Stock Performance

Shares of Oatly Group stock opened at $7.75 on Friday. The firm has a market cap of $247.30 million, a PE ratio of -2.73 and a beta of 1.96. The company has a debt-to-equity ratio of 43.43, a current ratio of 0.40 and a quick ratio of 0.26. Oatly Group has a 1 year low of $7.38 and a 1 year high of $16.20. The stock has a fifty day moving average price of $12.19 and a 200-day moving average price of $11.31.

Oatly Group (NASDAQ:OTLY) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.05). The company had revenue of $243.05 million for the quarter, compared to the consensus estimate of $241.75 million. Oatly Group had a negative net margin of 9.51% and a negative return on equity of 2,479.86%. Equities research analysts anticipate that Oatly Group will post -2.91 EPS for the current year.

Hedge Funds Weigh In On Oatly Group

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC purchased a new position in Oatly Group during the second quarter valued at $518,000. Maven Securities LTD acquired a new position in Oatly Group during the second quarter worth about $426,000. Performa Ltd US LLC raised its holdings in shares of Oatly Group by 12.9% during the 2nd quarter. Performa Ltd US LLC now owns 11,400 shares of the company’s stock valued at $107,000 after buying an additional 1,300 shares during the period. Renaissance Technologies LLC lifted its holdings in Oatly Group by 74.5% in the first quarter. Renaissance Technologies LLC now owns 51,513 shares of the company’s stock worth $522,000 after purchasing an additional 22,000 shares during the period. Finally, R Squared Ltd grew its position in Oatly Group by 77.1% in the first quarter. R Squared Ltd now owns 25,609 shares of the company’s stock worth $260,000 after acquiring an additional 11,145 shares in the last quarter. Institutional investors and hedge funds own 68.15% of the company’s stock.

Oatly Group Company Profile

Oatly Group AB is a Sweden-based food and beverage company focused on developing, producing and selling oat-based alternatives to dairy products. Its portfolio includes oat drinks, barista beverages, yogurt-style products, cooking creams, spreads, ice cream and other oat-based foods and beverages.

The company was founded in the 1990s in Sweden, based on research into the nutritional and functional properties of oats. Oatly markets its products under the Oatly brand and emphasizes plant-based nutrition, sustainability and the use of oats as an alternative to dairy ingredients.

Oatly sells its products through grocery retailers, foodservice operators, cafés and e-commerce channels across Europe, North America and parts of Asia.